The pair EUR/USD continues its decline on the Forex and records new low.
Indeed, the fall of the Euro us Dollar since the beginning of the week to stop.
Yesterday we had scored a more down to 1.1757, before going back up to test the 1.1800 resistance.
This threshold was held during the night, and the downside pressures have again taken over.
This morning we hit a new low at 1.1741, but the decline in EUR/USD could now slow down after a steep and rapid decline.
In addition, the next area of support below the threshold of 1.1750 – the break is not confirmed yet – that comes in at 1.1720/1.1680 could be strong enough to brake the downward movement in a first time.
The increase, we find initial resistance at 1.1775, 1.1800 and 1.1825.
A possible return to the top of the 1.1825 could strongly mitigate the downward pressures and to encourage a rebound more robust towards 1.1850 and then the zone of 1.1900/1.1920.
On the economic calendar of the day, we will follow durable goods orders US to 14: 30, and then the promises of housing sales to 16h. While orders of durable goods may react in the Forex, the promises of housing sales may go unnoticed.
The bias of EUR/USD remains firmly oriented to the downside, but the movement could now slow down, especially with the approach of the area of the 1.1720/1.1680.
The pair EUR/USD is currently trading at 1.1755 on the Forex.
Chart EUR/USD H1
See also our charts EUR/USD in real time.
This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.